90 Investors are closely watching as State Street prepares to report its first-quarter earnings, particularly to gauge how competitive fee pressures are impacting the company’s financial services for institutional investors. According to analysts surveyed by FactSet, the anticipated earnings per share for State Street stand at $1.49 for the first quarter, slightly lower than the $1.52 reported for the same period last year. Amidst this, State Street’s shares have faced challenges, declining by 5% year-to-date, compared to the S&P 500’s gain of 9.7%. State Street, headquartered in Boston, operates a significant asset management unit and provides custody and other services to institutional investors globally. As of December 31, it reported assets under custody and administration totaling $41.8 trillion and assets under management totaling $4.1 trillion. Additionally, investors will closely examine State Street’s net interest income (NII), which is the difference between income generated from interest-earning assets and expenses incurred from interest-bearing liabilities. The company’s NII benefited from the Federal Reserve’s interest rate hikes in 2022, and if rates remain elevated for longer than expected, it could further bolster State Street’s revenue. You Might Be Interested In Walt Disney, NBCUniversal, and Amazon Secure $77 Billion NBA Broadcasting Deal, Ending Long-Standing Warner Partnership Arbitration Panel Formed to Resolve Exxon-Hess Dispute Lululemon: Resilient Amidst Uncertainty, Hold Position Walmart Drone Shot Down in Florida Amidst Privacy Concerns BOJ Policy Shift Unlikely to Alter Japan’s Trillions in Foreign Investments Prudential Closes Hong Kong Wealth Management Unit Pulse
